Business email compromise attacks, also known as masquerading or invoice scams, are, according to bankinfosecurity.co.uk, becoming more “sophisticated and pervasive”.

The attacks use a range of techniques such as scheduling fraudulent wire transfers or diverting funds scheduled to be sent from one account to another, for example house purchase funds from a lawyer’s escrow account to the scammer’s own account.

From 20 days to seven minutes is the time saving in small business loan approval times that fintech start up Kabbage has pulled off according to McKinsey’s article on breakthrough customer experiences published this month. Wealth managers used to a rather more leisurely pace – partly hindered by legacy systems and slow information retrieval – should take note.

I admit I enjoy asking this question of CEOs and COOs at the private banks and wealth managers that I meet.

Only a few years ago online portals were seen as the great leap forward for the wealth management industry seeking to provide their clients with an improved experience online. But that was then and this is now, and the truth is that portals have not really engaged clients. Continue reading “How’s the portal going?”

Your inbox may not be bloated, but your security is confirmed as compromised.

All to often we hear about personal pictures being hacked into and shared from cloud solutions, online (banking, communication, storage) systems being compromised, Slack is the latest company to fall victim to a security failure.

As an Innovate Finance member alongside other leading financial service technology-led innovators, we aim to promote the fintech industry in the UK and overseas, and hope that a ‘power in numbers’ voice can influence policy makers, and attract investment.